Nick Powers Limited - Filleted accounts

Registered number

04988191

Nick Powers Limited

Filleted Accounts

31 December 2018

Nick Powers Limited
Registered number:		04988191
Balance Sheet
as at 31 December 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		4,347			4,253

Current assets
Debtors	3	11,947			19,806
Cash at bank and in hand		7,813			18,076
		19,760			37,882

Creditors: amounts falling due within one year	4	(12,023)			(16,510)

Net current assets			7,737			21,372

Net assets			12,084			25,625

Capital and reserves
Called up share capital			100			100
Profit and loss account			11,984			25,525

Shareholders' funds			12,084			25,625

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




N Powers
Director
Approved by the board on 7 September 2019

Nick Powers Limited
Notes to the Accounts
for the year ended 31 December 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% on a reducing balance
	Fixtures, fittings, tools and equipment	25% on a reducing balance

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 January 2018				25,615
	Additions				1,544
	At 31 December 2018				27,159

	Depreciation
	At 1 January 2018				21,362
	Charge for the year				1,450
	At 31 December 2018				22,812

	Net book value
	At 31 December 2018				4,347
	At 31 December 2017				4,253


3	Debtors		2018		2017
£				£

	Trade debtors		2,058		10,068
	Other debtors		9,889		9,738
			11,947		19,806


4	Creditors: amounts falling due within one year		2018		2017
£				£

	Taxation and social security costs		10,063		14,550
	Other creditors		1,960		1,960
			12,023		16,510


5	Other information

	Nick Powers Limited is a private company limited by shares and incorporated in England. Its registered office is:
	163 Welcomes Road
	Kenley
	CR8 5HB

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